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Building a high performance culture is one of our core strategies. The HR practices related to how we acquire, develop and reward people is explained with the requisite detail on page 23 of this report.
The Bank invested a total sum of Rs. 40.736 Mn on training in 2008 which worked out to an average
of Rs. 10,081/- per employee
| Category |
No. of Programmes |
No. of Heads |
Total Training Hours |
| Executive Officers & above |
414 |
1,481 |
20,086 |
| Junior Executive Assistants &
Management Trainees |
112 |
765 |
11,252 |
| Junior Executive Assistants &
Banking Trainees |
135 |
4,048 |
77,551 |
| Outsourced Staff |
29 |
659 |
8,760 |
Commercial Bank’s employment practices continue to reflect the human rights standards enshrined in the United Nations Universal Declaration of Human Rights and the International Labour Organisation Conventions. These cover such items as forced and compulsory labour, minimum working age, working hours, health and safety, discrimination, sexual harassment, collective bargaining and industrial relations.
The Bank also provides opportunities for the differently abled, encourages quality of work life for which the Bank has a written policy, and provides facilities for all staff to participate in sports.
Staff retention ratio is perhaps the most significant indicator of the Bank’s attractiveness and effectiveness as an employer
| Staff Retention |
2008 |
2007 |
| Staff Retention - Sri Lanka (%) |
95.83 |
96.16 |
| Staff Retention - Bangladesh (%) |
88.08 |
90.40 |
| Average |
91.96 |
93.28 |
Low level of absenteeism is a good indirect indicator
of the quality of work life in the Bank
| Staff Grade |
No. of Staff |
No. of Days |
| Absent
Permanent Staff (Sri Lanka) |
39 |
828 |
| Banking Trainees (Sri Lanka) |
191 |
600 |
The Sri Lankan Operation of the Bank contributes a significant sum of money towards employee
benefit plans every year
| |
|
2008
Rs. Mn |
| Bank’s Contribution - E.P.F. |
|
196.720 |
| Bank’s Contribution - E.T.F. |
|
46.992 |
| Contribution - Pension Fund |
|
292.592 |
| Contribution - W. & O.P. Fund |
|
0.066 |
| Staff Welfare |
|
83.877 |
| Pensions |
|
127.408 |
| Gratuity |
|
45.953 |
An analysis of the age of employees demonstrates a healthy balance between youth and experience
Age Analysis of the Staff as at December 31, 2008
| Category |
Corporate Management |
Executive Officers |
Executive Assistants & Allied |
Junior Executive Assistants & Allied |
Banking Trainees (BT) / Graduate Trainees (GT) |
Office Assistants and Others |
Total for the year 2008 |
Total for the year 2007 |
| Above 60 years |
3 |
1 |
– |
– |
– |
– |
4 |
3 |
| 51-60 years |
15 |
171 |
6 |
31 |
– |
35 |
258 |
224 |
| 41-50 years |
6 |
322 |
15 |
161 |
1 |
74 |
579 |
542 |
| 31-40 years |
1 |
624 |
19 |
235 |
1 |
36 |
916 |
940 |
| 21-30 years |
– |
356 |
15 |
1,047 |
739 |
– |
2,157 |
1,909 |
| 20 and below |
– |
– |
– |
– |
127 |
– |
127 |
127 |
| Total |
25 |
1,474 |
55 |
1,474 |
868 |
145 |
4,041 |
3,745 |
| Average age of employees |
2008 |
2007 |
| Sri Lanka |
31.8 |
32.0 |
| Bangladesh |
37.4 |
37.9 |
| Average |
34.7 |
34.9 |
Commercial Bank recognises that a diverse workforce gives the Company a wider range of experiences and helps it to respond better to the needs of its customer base
Gender Distribution as at December 31, 2008
| |
Male |
Female |
Total |
| Corporate Management |
24 |
1 |
25 |
| Executive Officers |
1,077 |
397 |
1,474 |
| Executive Assistants & Allied |
43 |
12 |
55 |
| Junior Executive Assistants & Allied |
1,012 |
462 |
1,474 |
| Banking Trainees |
754 |
114 |
868 |
| Office Assistants & Others |
145 |
– |
145 |
| Total |
3,055 |
986 |
4,041 |
Fresh talent is mostly acquired at junior grades. Senior grades represent a good blend
of experience with the Bank coupled with experience from outside.
Service Distribution as at December 31, 2008
| Category |
Corporate Management |
Executive Officers |
Executive Assistants & Allied |
Junior Executive Assistants & Allied |
Banking Trainees (BT) / Graduate Trainees (GT) |
Office Assistants and Others |
Total for the year 2008 |
Total for the year 2007 |
| Above 20 years |
17 |
399 |
14 |
102 |
– |
87 |
619 |
590 |
| 16-20 years |
1 |
260 |
6 |
121 |
– |
27 |
415 |
315 |
| 11-15 years |
1 |
266 |
6 |
117 |
– |
30 |
420 |
531 |
| 6-10 years |
– |
119 |
1 |
47 |
– |
1 |
168 |
244 |
| Below 5 years |
6 |
430 |
28 |
1,087 |
868 |
– |
2,419 |
2,065 |
| Total |
25 |
1,474 |
55 |
1,474 |
868 |
145 |
4,041 |
3,745 |
| Average Service of Employees (In Years) |
2008 |
2007 |
| Sri Lanka |
8.0 |
9.0 |
| Bangladesh |
9.5 |
10.1 |
| Average |
9.6 |
8.8 |
The value of our human capital is estimated to be Rs. 33 Bn.
Human Resource Accounting
The Lev and Schwartz model has been used to compute the value of the Bank’s human
resource as at December 31, 2008.
The Human Resource Valuation is based on the following assumptions:
- All the existing employees will continue in employment up to retirement.
- Employee remuneration includes all direct and indirect benefits earned by them.
- Annual increment is granted at 14% on average.
- Total future remuneration of all the employees for each year is discounted to the
present value at 20.92%, the 12 months weighted average Treasury Bill rate plus
2% for the risk premium.
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